Seniors Housing News

Lakeside Village proves beauty isn't just skin deep It's what's on the inside that counts, right?

Classic Residence by Hyatt certainly hopes so. The Chicago-based corporation recently won a gold seal award for the interior design of its Lakeside Village property.

The Lantana, Fla., continuing care retirement community received a gold seal award in the Best of Seniors' Housing Award Program, conducted by the National Council on Seniors Housing division of the National Association of Home Builders.

Presented during the annual NAHB convention in Dallas, the award was the only prize given for interior design in a field of 95 entries. International Design Associates Inc., a Nashville, Tenn.-based firm, was commissioned for the project.

Lakeside Village features 203 independent living apartments, as well as an on-site care center with 37 assisted living apartments and 23 Alzheimer's suites.

Tri-National will compete with Marriott in Arizona deal Positioned to compete with Marriott's fully occupied Brighton Garden facility in Youngstown, Ariz., Tri-National will build and operate a 100-suite assisted living center in the Southwestern city.

The San Diego-based company has finalized the deal worth $12.9 million and plans to manage the facility through its newly formed subsidiary, Alpine Gardens East.

Tri-National also has executed agreements and is in the process of its due diligence for its second assisted living facility in San Marcos, Calif., which could be completed and delivered for a combination of cash, preferred stock and a mortgage, totaling $14.4 million. The company has identified seven other California sites for additional living facilities.

Tri-National also anticipates incorporating similar facilities into its 200-acre planned medical campus on its Hills of Bajamar property in Northern Baja California, Mexico, approximately 45 miles south of the U. S. border.

Omega Worldwide extends reach into Southern Hemisphere Announcing its Australian presence, British company Omega Worldwide Inc. has acquired Assisted Living Unit Trust (ALUT), a property trust that owns 10 nursing homes in New South Wales, Australia, for nearly $50 million.

As part of the purchase, Omega has renamed ALUT as Principal Healthcare Financial Trust (PHFT), and it plans to seek a local partner for part ownership in the company.

Omega owns 160 nursing homes in the United Kingdom and provides investment services to the health care industry.

ManorCare opens second facility in the Lone Star State ManorCare Health Services is busy finishing an Alzheimer's assisted living facility on a portion of 10.2 acres acquired by the company in Houston.

The new one-story facility, Arden Courts, has a residential design with 56 beds organized within four self-contained houses, each connecting to common areas.

The new facility is located in the masterplanned development of Westchase just outside of Houston. This is the second Arden Court facility under development for Gaithersburg, Md.-based ManorCare.

Holliday arranges $115 million loan for Trimark Realty projects In an arrangement worth $115 million, Holliday Fenoglio Fowler L.P., Houston, has guaranteed financing for the development of at least four senior housing facilities across the United States by Trimark Realty Investments Inc., a development firm based in Dallas.

Trimark has financed 2,857 units in a $65 million facility line with Nomura Capital.

Trimark's first property will be a Class-A, 140-unit, independent living facility located in Mesa, Ariz.

Future plans for the company include the development of at least four to five more properties in the next 15 months through a $50 million construction loan facility also funded by Nomura Capital.